NEW YORK (TheStreet) -- Nokia
(NOK) was gaining 0.5% to $8.22 Monday after closing the acquisition of SAC Wireless.
The Finnish company said it expects revenue synergies from the acquisition according to Reuters. Nokia did not disclose the terms of the deal, which will see o500 SAC Wireless employees join the company.
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"Nokia Corporation invests in technological devices. The Company is focused on three businesses: network infrastructure software, hardware and services, which it offers through Networks; location intelligence, which the Company provides through HERE, and advanced technology development and licensing, which the Company pursues through Technologies. Networks are a specialist in mobile broadband. HERE is engaged in mapping and location intelligence business. Through Technologies, the Company will invest in the development of its portfolio. This will include expanding its successful IP licensing program. In April 2014, the Company announced that it has completed the sale of substantially all of its Devices & Services business to Microsoft. In June 2014, the Company acquired Mesaplexx Pty Ltd. In June 2014, Inventergy Global Inc. acquired patent portfolio from Nokia, which includes 16 patent families comprised of 77 patents and patent applications pertaining to IP Multimedia Subsystems."
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